When you purchase used construction equipment, you want to make sure that the sale is legitimate, the equipment is legally for sale and that it is in good condition. Here are three ways you can protect yourself when buying used construction equipment.
#1 Purchase Equipment Through A Business
When you purchase equipment, do not just buy the first thing you see listed online at a good price. Make sure that you are purchasing from a reputable seller or business.
You can easily check and see if a business is legitimate through a little internet research. If the company you purchase from is publically traded, you should be able to find their financial statements online. If the company is privately owned, you should be able to find evidence of how long they have been in business.
You should also check online for reviews and customer testimony. You should be able to find reviews on sites such as Yelp, Google, and Facebook. This should allow you to figure out pretty quickly if the business is legitimate and if it has been in business for a while.
#2 Check Ownership Rights
Second, you should check ownership rights of any used equipment that you are interested in purchasing. Insist on seeing the original sales invoice that proves that that the company or individual in question who is selling the equipment rightly owns it. If the purchase was financed, insist on seeing the final loan statement that shows that the loan has been paid off.
Ask to see the title to ensure that there is not a lien on the title.
You can also run the VIN or serial number on the equipment through your local police office to ensure that the equipment in question has not been reported as stolen if you feel unsure about the origins of the equipment.
#3 Thoroughly Inspect The Equipment
Third, you should thoroughly inspect the equipment and make sure that it is in acceptable condition to you before you go through with the sale. Make sure that you inspect the mechanical components of the equipment; don't just rely on a visual inspection. If you are not that familiar with the type of equipment that you are trying to purchase, have someone with more experience with that type of equipment inspect it before you go through with the purchase.
When purchasing used construction equipment, go through a seller you trust, check the ownership rights, and always inspect the equipment closely before closing the sale. Contact a company like Cooke Rentals for more info.